While workers' compensation covers most workplace injuries, there are a few exceptions. The workers’ compensation system is a no-fault system. Meaning, it makes no difference whether the injury was caused by you or your employee’s negligence. In general, all that matters is that your employee’s injury was directly caused by their job. However, there are…

Endorsements For Business Insurance
"Commercial insurance endorsements" is a phrase that insurance companies and brokers frequently use, but few business owners understand what an endorsement is. An insurance endorsement (or rider) amends a commercial insurance policy by adding, removing, or excluding specific categories of coverage. It enables you to tailor your insurance to your specific demands or budget without…

Professional VS Ordinary Negligence
Any business can make mistakes, but companies that offer industry specific expert services or consulting are more vulnerable to negligence claims when they make a mistake. If your company gets sued due to a mistake or misleading information, it could hurt both your reputation and your bottom line. Negligence suits are one of the most…

What Is An Assigned Risk Pool?
An assigned risk plan is a workers compensation plan set up by the state for businesses that cannot get a workers compensation plan from a ‘regular’ insurer. Plans with an assigned risk are also known as the leftover market or the assigned risk pool. This safety net is the last option for employers who don't…

What Is a Workers’ Compensation Audit?
You know how important it is to have workers' compensation insurance if you run a business. More often than not, you legally have to have this kind of insurance. But workers' compensation is one of the hardest types of business insurance to understand and follow the rules for. Each state has its own rules about…

Workers’ Compensation For The Self-Employed
Although workers’ compensation is generally for employers to have for their employees it also covers you if you’re self-employed, such as an independent contractor. Just because you work for yourself doesn’t always mean workers’ compensation is optional for you. Almost every state requires that companies give workers' compensation insurance to their employees. Each state has…

Workers’ Compensation Insurance Vs. Disability Insurance
Workers’ compensation and disability insurance are similar policies, but workers’ compensation covers both the company and the employee from injuries and illnesses that happen at work. While disability insurance covers an employee for medical problems that happen outside of work. Workers’ compensation insurance and disability both help workers who are sick or hurt and can’t work…

How Workers’ Compensation Handles Death Benefits
Workers' compensation insurance can help pay for medical care for workers who get sick or hurt on the job. But what happens if a person gets hurt on the job and dies because of it? If an employee passes away due to a work injury or illness, workers’ compensation provides death benefits that may offer…

What To Avoid When Shopping For Business Insurance
Shopping for insurance for a small business can be difficult and time consuming, especially for new businesses. Your business insurance needs and risks vary a lot more than individual insurance does. Running a business can feel like walking through a trap, where every step could be a mistake. It's easy to spend too much on…

Making Sense Of E&O Insurance & EPLI
Risk management is the core of commercial insurance. You know you have to protect your business from lawsuits, like if an employee is injured on company property, as well as from disasters such as fire or theft. However, not all damages are physical and not all claims are made by third parties. There are times…

Creating A Safer Workplace
A serious injury at work can have a big effect on you and your business. It’s more common than you might think. So far in 2023, employers have reported 4.26 million non-fatal workplace injuries. Even though that seems like a lot, the number of work injuries has been steadily decreasing. That’s because more and more…

Can I Terminate an Employee On Workers’ Compensation?
In the United States, workers’ compensation insurance protects employees who become ill or injured on the job. Reviewing and retrieving medical records is an essential process. It helps in finding medical evidence that lets the insurer make a fair decision about the workers’ compensation claim. An important consideration for any business is whether an employee…

How Is A Workers’ Compensation Premium Calculated?
Your workers’ compensation premium is calculated with a formula that has 3 primary components. First the type of business you own, second your claims history, and finally, your total payroll. The formula is Payroll (per $100) x Class Code Rate x Experience Modifier (if applicable) + State Taxes & Fees = Premium. The National Council…

Business Insurance For Your Home-Based Business
You’ve finally made it, you are your own boss and you run your business out of your home. You’re not alone. There are currently more than 20 million people in the country who work from home. Of those, almost 70% are running their own home-based business. The question is, is your home business properly insured…

The Most Common Business Insurance Claims
If everything has been smooth sailing for your business so far, then that’s great! We don’t want to be the bearers of bad news but we have to remind you that things can go wrong. Which is why you have to maintain your commercial insurance policies. It could be a major mistake to believe that…

How to Fight a Workers’ Comp Claim
Workers’ compensation insurance is designed to protect you and your employees financially in the event of a workplace accident or unjust. Workers’ compensation insurance isn’t just a good idea, depending on your state it may be a legal requirement. When it comes to workers’ comp claims, the majority of them are approved because workers’ compensation…

Is Employer Liability and Workers’ Compensation the Same?
If you’re running a business, you probably know that you need workers’ compensation insurance to protect both your business and your employees in the event that they sustain an injury at work. Not only that, but most businesses have to have workers’ comp insurance in most states. But you might have also heard of employer…

Business Insurance For The Self-Employed
More and more Americans are leaving their cubicles to work on their own. Well, why not? You decide how to run your business. You decide when to work. Who is on your team is up to you. Those are some great perks. So it's not surprising that there are 15 million self-employed professionals in the…